The reason the idea is so preposterous (in the short term) is simply because the negotiations for a buyout of a potential high growth company like KMAG, to a company like TYCO, would take minimum 6-8 months, possibly up to 2 years, to finalize even enough to announce it. TYCO ain't gonna let KMAG just thro their name around.
Doing any kind of substantial transaction with TYCO takes many months for the legal beagles on both sides to tie up all the loose ends. It ain't no shake of the hands over a few good drinks and a signed napkin to clinch the deal.